The merger between the ICAEW and CIPFA has been rejected, by the narrowest of margins.
65.7% of ICAEW members, who voted, voted for the merger; less than 600 votes below the 66.7% majority needed to carry the motion.
However, the 37,004 members who voted in favour of the merger represent a mere 29% of the total membership of the ICAEW.
Hardly a mandate for merger!
The close margin just goes to prove that the outcome was far from certain, and that every vote counted.
I am pleased to say that turnout was reasonably good, compared with other votes, 56,326 members (44%) voted.
I understand from feedback at the meeting, that the younger members, who have only recently qualified, were the most keen to maintain the brand value of the qualification that they have worked so hard for.
This puts into perspective the media spin that has been used by some, to portray the "anti merger camp" as being out of touch and "of a certain age".
I would like to thank everyone for their help and support in stopping this misguided merger proposal.
I am very pleased with the result.
The brand value of our qualification has been maintained.
However, there are issues that now need to be addressed:
1 The size of council needs to be cut from its current level of over 90, to 12.
2 Peace needs to be made with ICAS, with a view to merging in the long term.
3 £1.4M has been wasted, members of the ICAEW executive team should now consider their positions.
4 Our relationship with Media Strategy should be terminated.
I will continue to run www.stopthemerger.org, to ensure that these issues are addressed.
Once again thank you for your help and support.